{"id":66792,"date":"2024-08-30T21:35:07","date_gmt":"2024-08-30T21:35:07","guid":{"rendered":"https:\/\/www.crypto-news-flash.com\/?p=810956"},"modified":"2024-08-30T21:35:07","modified_gmt":"2024-08-30T21:35:07","slug":"el-salvadors-135m-bitcoin-gamble-now-worth-400m-president-bukele-reflects-on-success","status":"publish","type":"post","link":"https:\/\/coinalsat.com\/en\/el-salvadors-135m-bitcoin-gamble-now-worth-400m-president-bukele-reflects-on-success\/","title":{"rendered":"El Salvador\u2019s $135M Bitcoin Gamble Now Worth $400M\u2014President Bukele Reflects on Success"},"content":{"rendered":"<p> <img loading=\"lazy\" width=\"1792\" height=\"1024\" src=\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-14-14.04.08-A-conceptual-image-representing-the-topic-Bitcoin-BTC-to-100K-by-2025-Here-Are-3-Reasons-Traders-Believe-Its-Possible.-The-image-features-a-lar.webp\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" link_thumbnail=\"\" decoding=\"async\" srcset=\"\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-14-14.04.08-A-conceptual-image-representing-the-topic-Bitcoin-BTC-to-100K-by-2025-Here-Are-3-Reasons-Traders-Believe-Its-Possible.-The-image-features-a-lar.webp 1792w, \/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-14-14.04.08-A-conceptual-image-representing-the-topic-Bitcoin-BTC-to-100K-by-2025-Here-Are-3-Reasons-Traders-Believe-Its-Possible.-The-image-features-a-lar-300x171.webp 300w, \/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-14-14.04.08-A-conceptual-image-representing-the-topic-Bitcoin-BTC-to-100K-by-2025-Here-Are-3-Reasons-Traders-Believe-Its-Possible.-The-image-features-a-lar-1200x686.webp 1200w, \/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-14-14.04.08-A-conceptual-image-representing-the-topic-Bitcoin-BTC-to-100K-by-2025-Here-Are-3-Reasons-Traders-Believe-Its-Possible.-The-image-features-a-lar-768x439.webp 768w, \/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-14-14.04.08-A-conceptual-image-representing-the-topic-Bitcoin-BTC-to-100K-by-2025-Here-Are-3-Reasons-Traders-Believe-Its-Possible.-The-image-features-a-lar-1536x878.webp 1536w, \/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-14-14.04.08-A-conceptual-image-representing-the-topic-Bitcoin-BTC-to-100K-by-2025-Here-Are-3-Reasons-Traders-Believe-Its-Possible.-The-image-features-a-lar-150x86.webp 150w, \/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-14-14.04.08-A-conceptual-image-representing-the-topic-Bitcoin-BTC-to-100K-by-2025-Here-Are-3-Reasons-Traders-Believe-Its-Possible.-The-image-features-a-lar-450x257.webp 450w\" sizes=\"auto, (max-width: 1792px) 100vw, 1792px\" \/><\/p>\n<ul>\n<li><b>El Salvador\u2019s president Nayib Bukele discloses profit and numerous benefits since legalizing Bitcoin as a legal tender in 2021.\u00a0<\/b><\/li>\n<\/ul>\n<ul>\n<li><b>He said potential profits and financial inclusion fueled their Bitcoin move.<\/b><\/li>\n<\/ul>\n<hr \/>\n<p><span style=\"font-weight: 400;\">El Salvador<\/span><span style=\"font-weight: 400;\"><span style=\"box-sizing: border-box; margin: 0px; padding: 0px;\">\u00a0became the first country to adopt\u00a0<a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/www.crypto-news-flash.com\/what-is-bitcoin-btc-history-and-beginner-guide\/\">Bitcoin (BTC)<\/a> as legal tender in 2021 after Congress voted in favor of President Nayib Bukele\u2019s proposal. Three years after this groundbreaking initiative, the country has witnessed incredible growth as its $135 million Bitcoin investment increased to $400 million in the public wallet. Bukele\u00a0disclosed this<\/span>\u00a0in his recent interview with Time Magazine.\u00a0<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">El Salvador invested $135 million. Now, we have $400 million in Bitcoin in the public wallet alone. We have done well as a government.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">Our\u00a0<a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/www.crypto-news-flash.com\/imf-warns-against-adoption-of-crypto-as-legal-tender\/\">reports<\/a> on this story showed that the International Monetary Fund (IMF) was highly against this decision. According to Bukele, the risks of Bitcoin cited in an IMF report have not materialized as El Salvador\u2019s move has witnessed only benefits. Commenting on the threats and resistances faced amid this legalization, Bukele disclosed that the potential profits and financial inclusion were the principal factors that motivated him to defy orders and stick to the goals.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Regardless of these profits, El Salvador\u2019s president admitted that the adoption of Bitcoin has fallen short of expectations. However, the country has the largest funds in the world.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">We offered it as an option, and those who chose to use it have benefited from the rise in Bitcoin\u2026there\u2019s a lot of future in that currency [Bitcoin].<\/span><\/p>\n<\/blockquote>\n<h3>El Salvador\u2019s Bitcoin Mining Program<\/h3>\n<p><span style=\"font-weight: 400;\">The country&#8217;s commitment to the digital asset was seen recently when the president installed 300 processors to mine Bitcoin from the volcano. Out of the 102 megawatts (MW) produced, 1.5 MW was devoted to Bitcoin mining. As of May, about 474 Bitcoins had been mined, bringing the government\u2019s total portfolio to about $354 million at that time. According to an official government entity \u201cBitcoin Office\u201d, the government\u2019s coffers had about 5,750 Bitcoins as of May.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">In the past few months, US presidential candidate Donald Trump has doubled down on his campaign activities, with messages that largely align with El Salvador&#8217;s previous activities. In our recent <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/www.crypto-news-flash.com\/donald-trump-to-make-the-united-states-the-crypto-capital-of-the-world-will-bitcoin-price-skyrocket\/\">publication<\/a>, Trump announced that he would make the US the crypto center of the world.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Commenting on these, Bukele stated at the Conservative Political Action Conference (CPAC) that the US may be a little too late to \u201center the party.\u201d According to him, the US government does not rely on high taxes for funds. Instead, it focuses on Treasury bonds, which are mostly purchased by the Feds by printing money.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Comparing this to El Salvador, Bukele disclosed that Bitcoin\u2019s impact has affected its tourism, investment, and branding. He also mentioned how the country has been providing certifications and instructions to 80,000 public servants on the digital asset. This was also confirmed by the director of the Bitcoin Office, Stacy Herbert.<\/span><\/p>\n<p dir=\"ltr\" lang=\"en\">El Salvador keeps winning because we keep building to the very highest standards. For three years now, the <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/bitcoinofficesv?ref_src=twsrc%5Etfw\">@bitcoinofficesv<\/a> has been trailblazing the path upon which all other nations will follow. Along with creating <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/cuboplus?ref_src=twsrc%5Etfw\">@cuboplus<\/a>, building a new K-8 Bitcoin Workbook &amp; introducing\u2026 <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/t.co\/IzoZ1XIccW\">pic.twitter.com\/IzoZ1XIccW<\/a>\u2014 Stacy Herbert <img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f1f8-1f1fb.png\" alt=\"\ud83c\uddf8\ud83c\uddfb\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\" \/><img decoding=\"async\" src=\"https:\/\/s.w.org\/images\/core\/emoji\/15.0.3\/72x72\/1f680.png\" alt=\"\ud83d\ude80\" class=\"wp-smiley\" style=\"height: 1em; max-height: 1em;\" \/> (@stacyherbert) <a rel=\"noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/stacyherbert\/status\/1825993242552226006?ref_src=twsrc%5Etfw\">August 20, 2024<\/a><\/p>\n<p><span style=\"font-weight: 400;\">At press time, Bitcoin was trading at $59.3k, having surged by <span style=\"color: #008000;\">1.6%<\/span> in the last 24 hours.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400;\"><\/p>\n<div class=\"cryptoboxes\" id=\"mcw-19491\" data-realtime=\"on\">\n<div class=\"mcw-chart mcw-chart-light\" data-font = \"inherit\" data-coin = \"bitcoin\" data-symbol = \"BTC\" data-currency = \"USD\" data-rate = \"1.000268\" data-type = \"chart\" data-view = \"month\" data-theme = \"light\" data-smooth = \"true\" data-areacolor = \"\" data-bgcolor = \"\"><\/div>\n<\/div>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p> <img loading=\"lazy\" width=\"1792\" height=\"1024\" src=\"https:\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-14-14.04.08-A-conceptual-image-representing-the-topic-Bitcoin-BTC-to-100K-by-2025-Here-Are-3-Reasons-Traders-Believe-Its-Possible.-The-image-features-a-lar.webp\" class=\"webfeedsFeaturedVisual wp-post-image\" alt=\"\" style=\"display: block; margin-bottom: 5px; clear:both;max-width: 100%;\" link_thumbnail=\"\" decoding=\"async\" srcset=\"\/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-14-14.04.08-A-conceptual-image-representing-the-topic-Bitcoin-BTC-to-100K-by-2025-Here-Are-3-Reasons-Traders-Believe-Its-Possible.-The-image-features-a-lar.webp 1792w, \/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-14-14.04.08-A-conceptual-image-representing-the-topic-Bitcoin-BTC-to-100K-by-2025-Here-Are-3-Reasons-Traders-Believe-Its-Possible.-The-image-features-a-lar-300x171.webp 300w, \/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-14-14.04.08-A-conceptual-image-representing-the-topic-Bitcoin-BTC-to-100K-by-2025-Here-Are-3-Reasons-Traders-Believe-Its-Possible.-The-image-features-a-lar-1200x686.webp 1200w, \/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-14-14.04.08-A-conceptual-image-representing-the-topic-Bitcoin-BTC-to-100K-by-2025-Here-Are-3-Reasons-Traders-Believe-Its-Possible.-The-image-features-a-lar-768x439.webp 768w, \/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-14-14.04.08-A-conceptual-image-representing-the-topic-Bitcoin-BTC-to-100K-by-2025-Here-Are-3-Reasons-Traders-Believe-Its-Possible.-The-image-features-a-lar-1536x878.webp 1536w, \/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-14-14.04.08-A-conceptual-image-representing-the-topic-Bitcoin-BTC-to-100K-by-2025-Here-Are-3-Reasons-Traders-Believe-Its-Possible.-The-image-features-a-lar-150x86.webp 150w, \/\/www.crypto-news-flash.com\/wp-content\/uploads\/2024\/08\/DALL\u00b7E-2024-08-14-14.04.08-A-conceptual-image-representing-the-topic-Bitcoin-BTC-to-100K-by-2025-Here-Are-3-Reasons-Traders-Believe-Its-Possible.-The-image-features-a-lar-450x257.webp 450w\" sizes=\"auto, (max-width: 1792px) 100vw, 1792px\" \/>El Salvador\u2019s president Nayib Bukele discloses profit and numerous benefits since legalizing Bitcoin as a legal tender in 2021.\u00a0 He said potential profits and financial inclusion fueled their Bitcoin move. El Salvador\u00a0became the first country to adopt\u00a0Bitcoin (BTC) as legal tender in 2021 after Congress voted in favor of President Nayib Bukele\u2019s proposal. Three years [&#8230;]  <\/p>\n","protected":false},"author":5,"featured_media":66793,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1,1,1,1,1,1,1,1,1],"tags":[],"class_list":["post-66792","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>El Salvador\u2019s $135M Bitcoin Gamble Now Worth $400M\u2014President Bukele Reflects on Success - CoinAlSat.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinalsat.com\/en\/el-salvadors-135m-bitcoin-gamble-now-worth-400m-president-bukele-reflects-on-success\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"El Salvador\u2019s $135M Bitcoin Gamble Now Worth $400M\u2014President Bukele Reflects on Success - CoinAlSat.com\" \/>\n<meta property=\"og:description\" content=\"El Salvador\u2019s president Nayib Bukele discloses profit and numerous benefits since legalizing Bitcoin as a legal tender in 2021.\u00a0 He said potential profits and financial inclusion fueled their Bitcoin move. 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El Salvador\u00a0became the first country to adopt\u00a0Bitcoin (BTC) as legal tender in 2021 after Congress voted in favor of President Nayib Bukele\u2019s proposal. 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